NCBA Bank Uganda and MAC East Africa have launched a partnership to provide financing for schools seeking to acquire buses. The School Bus Financing Partnership, unveiled at Protea Hotel Kampala, combines NCBA's financial services with MAC East Africa's automotive expertise. This package covers vehicle acquisition and after-sales support, allowing eligible schools to access financing of up to 100% of the bus cost.
Under the arrangement, schools can repay the loan over 72 months, with a repayment holiday of up to 90 days. The package also includes free servicing and maintenance, comprehensive insurance, and free tracker installation. NCBA Executive Director Julius Konyani stated that the partnership was developed around the investment needs of schools, aiming to make asset acquisition more manageable.
The financing model incorporates services to support schools throughout the operating life of their vehicles. MAC East Africa will provide vehicles, automotive expertise, and after-sales support, bringing vehicle selection, acquisition, financing, and maintenance into one proposition. Aditya Arora, Country General Manager at MAC East Africa, emphasized that the partnership combines access to vehicles with financing that allows schools to spread the cost over a longer period.
The partnership aims to improve convenience for learners and parents while enabling schools to serve families across a wider geographical area. Reliable school transportation can have a significant impact on the quality of education provided. By making bus acquisition more accessible, schools can focus on their core activities while providing a valuable service to their students.
The launch event brought together representatives from the education sector and the Ministry of Works and Transport, focusing on safety, reliability, and responsible transportation of learners. Apollo Kashanku, Assistant Commissioner for Transport Regulation and Safety, emphasized that access to financing and vehicles must be accompanied by proper safety practices.
Kashanku highlighted that safe school transport requires reliable vehicles, responsible operators, and a commitment to protecting learners. Partnerships combining financing, quality vehicles, and road safety measures can contribute to improving standards in school transportation. The financing initiative places asset acquisition alongside vehicle management and safety, determining the long-term cost and reliability of school transport.
NCBA has made the facility available to eligible education institutions, with school owners and administrators able to engage the bank for information on eligibility requirements, financing terms, and the application process. This partnership is expected to have a positive impact on the education sector, providing schools with a vital service while supporting their financial sustainability.
Key points
- NCBA Bank Uganda and MAC East Africa offer 100% financing for schools to acquire buses.
- The partnership provides a repayment period of up to 72 months and a repayment holiday of up to 90 days.
- The financing package includes free servicing and maintenance, comprehensive insurance, and free tracker installation.
